You could make a very convincing argument that the person who serves as chair of the Federal Reserve is the most powerful person in the world, since he/she directs the monetary policy of the United States. Considering that most of the world’s countries rely on the value of the U.S. dollar to conduct international trade and value their own currency, what the U.S. does with its fiscal policy has a ripple effect around the globe. This is what you will explore this week.
- Follow the link to read a condensed version of an interview on National Public Radio that gives a great overview of the power of the Fed. (Links to an external site.)
- Watch the following video about the U.S. Federal Reserve: